Title
Approving the City and Xcel Energy Memorandum of Understanding.
Body
WHEREAS, the City and Xcel Energy are parties to electric and gas franchise ordinances granting Xcel Energy the privilege to use the City's public rights-of-way through December 31, 2036; and
WHEREAS, in connection with the negotiation of the electric and gas franchise ordinances, the City and Xcel Energy also negotiated a Memorandum of Understanding setting forth additional commitments between the parties that are supplemental to, and not a part of, the franchise itself, and that address unique community needs of the City; and
WHEREAS, the Memorandum of Understanding sets forth commitments by Xcel Energy relating to energy efficiency and decarbonization programming, service to low-income and energy-burdened customers, reliability and grid modernization, consolidated billing for City accounts, and continuation of the Tree Trimming Agreement between the parties; and
WHEREAS, the term of the Memorandum of Understanding is coextensive with the term of the electric and/or gas franchise, whichever expires last, and may otherwise be terminated only by mutual agreement of the parties; and
WHEREAS, the Memorandum of Understanding has been reviewed by the Office of the City Attorney and is in a form acceptable to the City; and
WHEREAS, the City Council finds that approval and execution of the Memorandum of Understanding is in the best interests of the City and its residents;